Thursday, June 30, 2016

The first Brexit also was expensive

There is more to the American Revolution reference to Brexit than snark.
As we approach the 240th anniversary of our nation's independence, we must look at what the naysayers said back then. People voted with their muskets and rifle either to Remain loyal to the Crown, or Leave. Chief among the reasons against leaving were financial considerations. Who would the 13 British colonies trade with?

But the rebels did not pay heed to the warnings of the financiers. Indeed, John Hancock and others paid severely for the privilege of signing that Declaration of Independence. They went in with their eyes wide open knowing that there are things worth more than money. The cost of freedom is paid by young men willing to die for their country. but they too paid a price by risking their lives, their fortunes and their sacred honor.

The financial market's punishment of the British for the Brexit should be ignored. The markets recovered because this was a game. They faked a panic. In a world where our federal government worked to protect us, the SEC would be investigating and prosecuting this collusion.

Of course, American conservatives are all for the Brexit -- including the ones who oppose the American version called Trump. Sure, it is easy to tell the other guy to go fight the Establishment, but when you rely on donations from the very people who tanked the market last week to show the British, it is hard to flip that middle finger, isn't it?

3 comments:

People who make a living by manipulating others gotta manipulate. Luckily, they are the minority, as they are about to learn. There will be much wailing and gnashing of teeth, but the citizenry will eventually set things right. - Elric

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I live in Poca, West Virginia, with my lovely wife of 40 years, Lou Ann. I am an Army veteran and Cleveland State graduate. I retired after 40 years as a newspaperman. In 2016, I published "Trump the Press," which drew rave reviews at Power Line and Instapundit.